I hear Cash Rewards is in trouble

Hehe, good call, Kevin. Since he pulled the disabled vet & cancer victim cards, I suppose the charity case will be linked to his own personal bank account.
It's interesting how many people stood up for the guy for so long.

(Message edited by bill_airjunky on July 23, 2009)

I'm going to open up a "help me pay the boat off" charity.... think he will donate?

Sounds like a class action lawsuit against MC and the dealers who pushed the program.

Dan's post was the best thus far.

Does a MC owner really need a couple extra bucks...

Yeah we bought the boat in 2004" so three years from then. Cash in the bank. Almost did it again for the 25K in 08 glad we didnt?

I had two different MC dealers tell me the success rate for CR was 9-13% I don't know where the 25% came from. That was Aug-Sept of 08.

"they were (are) all great people and devout Christians"
well if they are Christians they automatically are great people, Right? NOT thats a load of bullpoop

Quote-"To my knowledge tigeowners.com is not hosted by Tige corporate, but was started by an individual several years ago."



Tige does monitor that site and will have something pulled if needed.That being said it takes pretty much an out and out lie to get something pulled.Unlike the Nazis over at MC TT. Tige will let you air a problem and let it be discussed and help to work out a resolution.
As for cash rewards if you fell for it and got stiffed you got what you deserved IMPO you had to see it was to good to be true and there is no way it could ever work.If you did get your money back your just used up a bunch of good luck IMPO and thank your lucky stars you did.For MC to even get into this SCAM was a joke.
so lets vote
1-MC paid all their obligations and did nothing wrong
2-David Maloy got screwed by MC and did not receive the moneys he was supposed to get from MC and did everything he could to try and make it right.
3-MC and David Maloy are shaddy and ran a scam to defraud people of their money.
4-Who gives a chit i would not fall for that BS or buy a MC.

(Message edited by kko13 on July 23, 2009)

(Message edited by kko13 on July 23, 2009)

Aww man somebody deleted some of the teamtalk threads

I'm not a MC fan, but I will defend them slightly. I have heard many dealers didn’t like selling the Cash Rewards program. As for corporate MC, I wouldn’t say they intentionally defrauded their customers. MC was motivated to sell boats and found a sales gimmick that worked for some buyers ("that boat is 80K, but with Cash Rewards its only 55K" mind set). MC obviously knew many would not get paid and common sense said it wouldn’t last. MC just didn’t care because sales were more important. I think this will hurt MC in the future (at least with the educated buyer). There are other reasons why I have decided I dont want a MC, but that is for another day.

Im not gunna stick up for MC too much either ( I got laid off from an MC dealer A holes haha ) but anyways if you notice the part that says the money is held in a escrow account and secured by Independent Third Party Administrators ( I believe one of which is CITI BANK) Then why are you complaining? "IF" the fact remains that current certificate holders claims will still be honored on the terms of there contract I dont get what the problem was or is. I for one worked for a dealer that over time realized the down fall of cash rewards and quit using it as a sales bit. BUT, being the way the program worked even as tough as it is to redeem, from what it sounds like if you still follow the guidlines you will get your money... SO ONCE AGAIN IM NOT SAYING IM RIGHT BUT IF THIS IS TRUE WHY IS EVERYONE CRYING. YOULL GET YOUR MONEY...... And Cash Rewards is an independant company as well that MC and the dealers paid them to get these perks. So as much as you people feel screwed, Im sure the dealers and MC feel the same. And please before you bash this post, all Im saying is that if you can still redeem your money just as it was promised to you, then whats the point of crying about it.

dave
That's a pretty big if you are talking about.
Even when CR was solvent the odds were overwhelming against you receiving the reward. My biggest problem with the program was the way it was used to sell an overpriced product convincing buyers they will be compensated. The dealer and MC knew that 90% would loose. I don't think the buyers will hold a grudge for CR this one will be on MC. Good Luck getting those owners back.

Michael...

I'm sure the dealers were up front with the "guidelines" that are to be followed.....

If you read the guidelines and then sign the paper.... it's they buyers own fault.

So it seems shady for a company to have these crazy rules.... but if they and the dealers are up front about it.... they didn't do anything wrong. Unless like I have mentioned before, they did not pay out when someone did the correct procedure.

It's like someone complaining about a 50,000 mile warranty on a car.... at 60,000 miles the trany goes out... and they complain about the warranty only being 50,000 when other car manufactures offer a 100,000 mile warranty. They bought the car.... KNEW it was only 50,000 mile warranty... and still complain.

It makes since to me.... but perhaps i'm just screwed up....

^^^^^ The rules were crazy to be successful to get your redemption, but that is not the issue here. For people that followed or could follow the rules to a 'T' and rightfully expect that $10-$25K, they will now have no chance to collect. Well unless unless you still believe in the tooth fairy and think there is still a pot of money that CR fully funded.

Without being inside MC corporate is is impossible to know if they deliberately scammed their customers or know if they stiffed CR, but at the very least used incredibly poor judgement to market their product with CR. Well as far as CR being a scam, you would have to see the financial documents to see how much the owner and employees 'christian buddies' were paid vs. the funding of any escrow TPA accounts, but it certainly has all the makings of a deliberate scam.

If anyone actually stiffed CR.... it would be the dealers who did not send in the money like they should have been.... Not MC Corp.


The rules are crazy.... but they work. People have gotten their checks. I do hope that they have a pot of gold sitting out there...

I believe the guidelines were written to make 90% of the people fail. Like a pyramid game some get the money while most others loose.CR is gone and MC is left trying to explain to the their customers how this happened. Or after reading the company response maybe they wont. After all MC is targeting the 250k and up group. They wont care about 10-25k. It just goes to show you when you sleep in the dirt your bound to get dirty.

Shooter, good call man for posting the entire page. MasterCraft had totally deleted that thread.
MasterCraft going to need more TP in the future
Now I see why their larger boats have crappers

Yea Shooter, props, you saw that one coming. Let's see, you remind me of somebody else on here ... hmmm?, who is it?

And ... if I wanted to show my attorney a copy of that TT finger-wagging, I would print it out, like now. It could be deleted here too.

it's pretty much a sit and wait game right now..... if anyone took part in the CR program .... they better contact the lawyers that are handling the case. If the money is in an escrow.... then everything will be just fine... So.... I guess we will see in a year what the end results will be....

So, if the money was not put in an escrow account????????????

Criminal?

"If the money is in an escrow.... then everything will be just fine..." Why the bankruptcy then?

Everything will not be fine. If I paid money into this (didn't) I'd be happy just to get my original amount back. But good luck with that - I'd say that's doubtful. You're looking at cents on the dollar at best and can probably forget about the $10,000, $15,000 or $25,000 you expected coming.

"if anyone took part in the CR program .... they better contact the lawyers that are handling the case."

You make it sound like these lawyers are civil servants meant to make all well.

No no no. They are CR lawyers, MC has its own. And what would any of them do if you can manage to contact them ... share a client's confidential information with you?, willingly divulge to you information which they fight tooth and nail to protect as privileged or work product?, advise you what steps to take and when to maximize your money recovery?

Fool you once, shame on CR (+ ???), fool you twice ...

Good point Andy G. I have thought the same.... but I'm not 100% sure how all that works.... That's why i say we will have to await and see.

I see what your sayin Jonathan.... then people can get their own lawyer...

what's going to suck is in 6 months from now watch a miracle happen and people get paid and post pics of their checks on here.... and then all of this would be for nothing..... well.... i guess it's still all for nothing lol

lawyers are the only ones that win in a situation like this.

im done with this post.... it's all pointless there isnt much any of us can do

H20 why are you done? Seems you have invested a lot of time in this thread why stop now

lol... ok.... so not done....

it just seems pointless at this time to argue about something that we all have no control over or just say SCAM SCAM SCAM.... even when there hasn't been a final outcome...

By the way....Awesome profile pic.

People are not just saying scam scam scam. They're pointing out that it is a scam and the reasons why.
CRI's site is still up so I'd hate to think people are still getting sold this stuff.

I'm kinda shocked anyone would defend MC or the creeps from CRI.

Thanks, Too bad I'm here and not out there. Web sites like this make every min. on the boat that much more REWARDING

naa... they are not selling anything. I talked to a MC dealer the other day and they said they cant get a hold of CR. Nobody is answering the phones I guess.

I would wait till the end result...before calling it a scam.

Mike above got a check from them.... he said it was pretty retarded how you have to jump through hoops... but they got it.

That's why I say wait.... and if everyone gets screwed and this guy opens up another company doing the same thing.... tar and feather him....

The big signs at boat shows and on websites should have said in bold print,

RECIEVE $10000.00 CASH BACK FROM CASH REWARDS,MUST FILL OUT THIS FORM,WAIT 3 YEARS,DONT MOVE,DONT DIVORCE,DONT LET SPOUSE DIE,HAVE BOTH PEOPLE ON P.O. ON ALL UTILITY BILLS,DONT LOSE TRACK OF THESE 7 DAYS OR THESE 7 DAYS,DONT SELL YOUR BOAT,DONT TRADE YOUR BOAT,DONT WRECK YOUR BOAT,MAKE SURE YOUR DEALER PAYS ITS DUES TO US,MAKE SURE ALL POSTAGE IS CERTIFIED,MAKE SURE YOU HAVE YOUR ORIGINAL BIRTH CERTIFICATE ON HAND DURING THE PROCESS,HOPE WE DONT GO BK. AND YOU WILL RECIEVE 10K..IF NOT WE WILL GIVE IT TO CHARITY OF OUR CHOICE!

Its called misleading, whenever there is fine print trying to mislead the customer into believing it is easy to get the 10K when in the process of buying something, SCAM???? Questionable. Misleading up front YES. Hope it was put in a escrow account.

My dealer told us all the good... and all the bad of the system when we bought our boat. If the dealer tries to hide stuff... they are just as much scamming people...

You can sell you boat... wreck it..... stuff like that... not sure about moving and stuff....

I agree... I hope there is money for everyone out there who follows through with their paper work.

nobody said easy money was...actually easy....



Think about it... there are legal "scams" out there wherever you go. It's our job to read the fine print.

Go sign up for a gym membership ..... fine print... buy a car.... PAGES of fine print (you even sign an arbitration agreement giving up your rights) ..... buy a house.... Pages upon pages of fine print. You would be surprised what you find out and how much less of a headache you can have just by reading it.

I'll go with misleading.... Most promotions are exactly that. I agree on the hopes the money is in an escrow..... who knows.... that's why we will have to wait :-)

How could $1500 or $3000 placed in escrow turn into $10, 15, or 20K in 3 years. Could only work if invested in something with really high returns or if 80% of the people never make a claim (but that money was supposed to go to charity?)

kinda like the madoff fiasco...if you believe in something that's too good to be true, you gotta take what's coming.

it's a mystery George.... we currently know more about Big Foot at the moment then we do how CRI works...

George
Lets say 100 people bite on the Cash rewards
at a cost of 3k ea. thats 300k and only 10% are rewarded at 25k ea. CRI is up 50K if 12% are rewarded its a break even for CRI OK?
Charity, what Charity I don't see any stink'n Charity

H2O,

I think people on this thread, at least I am, are wondering why you seem to support CR or at least hold off judgment when the whole thing smells so fishy??? Why the need to play devil's advocate?

George is (repeatedly) right on. These things do not add up:
- $1,500 to $3,000 takes 80%+/- to turn into the $10K+ they are talking about. NOT possible (with Madoff in jail)
- So they count on 80-90% non-qualifiers to make up the difference (between $1,500 & $10K)
- BUT, they donate money to "charities" for rewards not claimed? (Conflicts with directly above)
- Money put in a third party Escrow account with a third party administrator for doling out awards. When/where does CR make their money then?
- FINALLY, add Mr. Maloy's cordially & professionally written posting above (a significant portion of which is irrelevant info).

Who can't smell the stink in all that?!

oh i agree... it doesn't all add up.... I just simply feel... like stated before.... should wait to see what happens.... It sounds crazy... but you cant ignore that people have gotten checks. Give it some time after the court hearings... and see what they say. Once I have more info to go on... then I can form more of an opinion. Does that make since? I'm not supporting them..... just trying to give a little hope to the people who bought into it... lol .... god knows they need it at this point.

Its not that H20 is defending CRI its that no one has anything concrete, all speculation.
If CRI doesn't come through MasterCraft said there would be payment
"Bottom line – MasterCraft has fully paid their obligations to Cash Rewards so if the dealer paid their part and the customer did their part CORRECTLY, their money is safe and they will receive payout. "

Its 5pm, my work is done for the day

If the money IS in escrow account, here is how your return will look:

Paid $1,000
Cash Rewards fees -$500
Citi Bank fees (beacause CR is BK) -$100
Loss of funds invested in high risk stocks -$300
David Maloy's trust fund -$99

Total return $1....Thanks MC!

look guys all mc dealers arent the same i bought a new boat last year and my dealership did not push the cash rewards program on me at all.they where very good to work with,we negotiated back and forth and in the end we both where happy with the deal.i choose to buy a mc not because of the cr program but because of the product.the fact that mc is / was / whatever involved was not the deciding on my purchase,(loving my boat) have a good day all.

H20- You are wack if you do not think the writing is on the wall and the public needs to wait. MC has stated their position and CR is in Bankruptcy. The fat lady has sung and the pyramid scheme is over.

Like MCXstar stated. Everything is in speculation and regardless of how hard it is to redeem I personally know the MC dealership I sold boats for would sit down with the customers and FULLY EXPLAIN the guidelines and program rules. So at this point Id like to consider that most people who have enough money to afford an MC, is a responsible, hard working person, capable of making there own decisions. We had finance managers that EXPLAINED EVERYTHING even after the salesman would explain it. So once the buyer committed IT WAS THERE CHOICE and the CONTRACT was signed. I do feel for those people at this point and hope they get what they signed for. Yes I think CR is shameful for filing bankruptcy, but these were legit contracts which if worse case scenario you have to get a lawyer and fight it, I don't see how you cant redeem. Just my .2 but what do I know. Everyone else already has it figured out I guess..... ON SPECULATION

And to the ones stating that MC is an overpriced product, Im sorry, but IMO I seriously disagree. As a riders stand point I love being behind a BU or CC any day of the week(love those wakes). BUT.... When your compare cost of materials involved in building these boats, MC has some pretty pricey materials. Malibu uses or did use CHROMED PLASTIC/ MC uses ANODIZED BILLET ALUMINUM- which cost more???? which would in turn be more expensive.... EXACTLY... Just because you like corvette and dont want to spend the money for a Lambo doesnt mean the Lambo is over priced... Feel me?.... Prob not.

Comparing Lambo to MC? Should not expect much from anyone who calls bankruptcy of the program speculation.

I guess the salespeople at your dealership forgot to mention that bankruptcy possibility?

Dave,

You did not just come out and use your typical MC card did you?

When I was shopping a MC the dealers used the CR program to offset the higher price of their boat.
With CR MC had a competitive advantage over other brands but with out CR they were significantly higher. The problem I had with new MC pricing was the 1-2 year old boat pricing. They dropped 15k or more on like new boats even more now. The reason I said they are overpriced was in relation to the used market not in the quality of the boat.

Dave.... MCXSTAR.... it's nice to know someone knows where I'm coming from lol...